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Arsenal 12/1 to reach quarters

Last Updated: February 19 2014, 22:17 GMT

Arsenal are now 12/1 with Sky Bet to qualify for the Champions League quarter-finals after losing 2-0 in the first leg of their last-16 clash with Bayern Munich at the Emirates Stadium on Wednesday night.

The Gunners saw goalkeeper Wojciech Szczesny sent off in the first half after record-signing Mesut Ozil had missed an early penalty and although Bayern also failed to score from their resulting spot kick, two goals after the break from Toni Kroos and Thomas Muller sealed a priceless away victory.

In Wednesday night's other game, Atletico Madrid claimed a narrow 1-0 win at AC Milan thanks to a late Diego Costa header and they're now 11/1 to become European champions. Sky Bet make the Spanish side 1/9 to progress to the next round, with AC Milan priced at 5/1.

Manchester City are now 66/1 from 10/1 for the trophy with Sky Bet following their 2-0 defeat to Barcelona on Tuesday night.

The Premier League title favourites were 2/1 to beat the La Liga leaders at the Etihad Stadium on Tuesday and confirmed their status as outsiders for the game after they went down to second-half goals from Lionel Messi and Dani Alves following a red card for Martin Demichelis.